Whether you’re looking for flexible rewards, a great insurance package, or rare cardholder perks – with annual fees ranging from $0 to $150 – BMO offers a wide selection of credit cards that may suit your needs.

Compare Bank of Montreal Credit Cards

How BMO Credit Cards Work

In recent years, the Bank of Montreal has been pushing the envelope and has made a name for themselves by providing Canadian consumers with:

While it seems that they have recently taken their foot off the gas a little, by scaling back the cash back earned on theBMO Cash Back World Elite Mastercard – and by devaluing their BMO Rewards slightly…

They still have cards showing up in many of our Best Credit Cards lists, including the BMO AIR MILES World Elite Mastercardscoring the Best AIR MILES award (by a landslide).

Two Rare Benefits

Additionally, BMO offers these two extremely rare benefits that few others can...

1. Personal Effects Insurance

This travel insurance covers any of your personal belongings (with a few exceptions, of course), during the entire course of your trip, in the event that something you own is:

  • lost,
  • stolen or
  • damaged.

You could be in your hotel, a taxi-cab, or even out shopping – and your personal belongings are covered. And while all of BMO’s World and World Elite cards come with this type of insurance, none of the other big 5 banks offer it at all.

In fact, almost all cards that offer any type of insurance on your bags or belongings only cover you while you’re actually in transit via a common carrier (think plane, ferry, or train). A select few more will cover you while in a rental car or hotel. But that’s it.

2. Roadside Assistance

The Bank of Montreal is one of the few credit card issuers to offer complimentary roadside assistance. In fact, of the 5 Canadian credit cards that do offer this feature, BMO is responsible for three of them:

  • BMO CashBack World Elite Mastercard
  • BMO CashBack World Mastercard
  • BMO Shell CashBack World Mastercard

Valued at $69/year, this great perk could definitely make an annual fee between $79 and $120 well worth it.

How To Get Your BMO Mastercard Annual Fee Waived

Need another reason to check out this list of BMO Mastercards?

What about the fact that you could get some of BMO’s premium credit cards for free? If you’re the type to keep a balance or $6K or more in your bank account, keep reading...

How it works: You’ll need to have a BMO Premium Banking Account. Simply apply online for the cards listed above and then upgrade your BMO bank account to premium. Keep in mind those accounts come with a fee of their own, although BMO will also waive that fee if you keep a minimum monthly balance of $6,000 in your chequing account.

The end result...you’ll get no fee banking with all the bells and whistles, a premium credit card with above average rewards, a long list of insurance coverage, and perks at absolutely not cost to you.

The creditcardGenius algorithm calculates an estimated dollar value for all rewards and bonuses by using a typical point value a person can realistically achieve by redeeming their rewards in a reasonably optimized way. The "Welcome Bonus" is the dollar value obtained by combining of all one-time bonuses available to new cardholders within the first year. To qualify for the full bonus you may need to make purchases, meet minimum spending requirements, or complete special actions. Terms and conditions apply.

Featured In

The Globe and Mail